High food and petrol prices paint bleak picture of state of the nation — Small-Ferguson

KINGSTON, Jamaica — Opposition Senator Ramon Small-Ferguson has painted a bleak picture of what the state of Jamaica looks like from the perspective of the kitchen table, the petrol pump and the small business struggling to keep its doors open. He used his contribution to the State of the Nation Debate in the Senate on Friday to do so. Small-Ferguson highlighted that there was pressure on household budgets with annual inflation reaching 7.9 per cent in August, while food prices were up 10.2 per cent, and transport prices up 14.6 per cent. He pointed to the Government’s commitment to increase the minimum wage to $18,500 per week from $16,000, barely two days before the September 3, 2025 general election. “Against those rising costs, what happened to the Government’s minimum wage promise?” Small-Ferguson asked rhetorically while pointing out that the promise was $18,500 per week. He noted that: “The amount delivered was $17,000, effective July 1, up from $16,000. A substantial promise became a modest increase: $1,500 a week less than Jamaicans were told to expect. The increase delivered was 6.25 per cent, while food prices were rising by more than 10 per cent.” On the matter of petrol prices, the Opposition Senator said, “Many of us in this chamber are divorced from the consequences of our decisions or indecision for the people we have a responsibility to govern and protect, so let me take the time to share some information with you.” Small-Ferguson used a powerpoint presentation to show that a Nissan AD wagon motorcar with a 45-litre tank using Petrojam’s announced price for 87-octane gasoline would set the owner back $7,180 to fill the tank in early October, 2025. “One year later, it would have cost approximately $9,433. That is approximately $2,253, or 31 per cent more for the same fuel, before retailer and marketing company mark-ups. That is well beyond any measure of reported fuel-price inflation,” he highlighted. The Opposition lawmaker said electricity bills remain exposed to those fuel-price pressures and that taxes have also increased, including the environmental protection levy that took effect this month. He posited that households and businesses face another demand on already stretched resources. “And just when Jamaicans were looking forward to lower interest rates, the direction has reversed, the  Bank of Jamaica raised its policy rate from 5.5 per cent to six per cent, effective September 29.” Small-Ferguson, who is also chief executive officer at Barita Investments Limited, noted that for those with variable-rate mortgages or car loans, that raises the risk of higher payments ahead. “For the small business seeking financing, it adds pressure to the cost of borrowing,” he said. Quoting from Government Senator Sherine Golding Campbell’s State of the Nation Debate presentation on October 2, in which she acknowledged that some Jamaicans were living in “perilous times”, Small-Ferguson said, “On that, we agree.” “But people need more than an acknowledgement of their hardship. They need serious intervention, decisive leadership and a government that delivers. That is the test of the state of our nation,” he said.